Eureka Forbes

Eureka Forbes, a consumer durable maker which operates in the health and hygiene space, on Tuesday reported a 28.48 per cent increase in its consolidated net profit at Rs 25.44 crore in the June quarter.
It had reported a net profit of Rs 19.80 crore in the April-June period a year ago.
However, its revenue from operations was down 4.06 per cent to Rs 504.81 crore in the first quarter of the ongoing fiscal as against Rs 526.22 crore in the year-ago period, Eureka Forbes said in a regulatory filing.
"This represented a sequential improvement in the trajectory of the business," said an earnings statement from Eureka Forbes.
Total expenses of Eureka Forbes, which was earlier owned by construction major Shapoorji Pallonji and Company, was at Rs 471.17 crore in the first quarter of FY 2023-24.
"During the quarter, the company's net debt stood at Rs 32 crore, a reduction of 85 per cent year-on-year," it said.
Last year, Advent International-backed Lunolux acquired the majority stake in

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Going forward, the management is confident of driving sustained performance on the back of differentiated innovations, an elevated customer experience, and a more efficient business mode

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Despite inflationary pressures, the consumer durables market is expected to witness robust demand, owing to the increasing need for premium products

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Cyrus Mistry, a high-profile Indian-born Irish businessman and the former chairman of the Tata group, passed away in a road accident on September 4, 2022

Shapoorji Pallonji

Construction major Shapoorji Pallonji and Company has exited from Eureka Forbes after selling its remaining 8.7 per cent stake to the new owner Lunolux, a firm backed by private equity

Water purifier, water, Eureka Forbes,

Eureka Forbes said the board of directors of the company has accepted the resignation of Marzin R. Shroff as the MD and Chief Executive Officer (Executive Director) of the company

Eureka Forbes Trendy Zip

Will move to a new role as a senior advisor to both Eureka Forbes and Advent International

Shapoorji Pallonji Mistry and six other directors have resigned from the board of Eureka Forbes, with the new owner Lunolux Ltd taking control of the vacuum cleaner and water purifier maker.

The exchange said, the stock will be in trade-for-trade (T2T) segment for the first 10 trading days.

The private equity major Advent International on Sunday signed an agreement with Shapoorji Pallonji Group to acquire a majority stake in Eureka Forbes at an enterprise valuation of Rs 4,400 crore

Illustration: Ajay Mohanty

Private equity firm Advent International will buy a controlling stake of 72.56 per cent in Eureka Forbes for approximately Rs 4,400 crore, it's parent Shapoorji Pallonji Group (SPG) has said.

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Signs deal with SP Group at Rs 4.4K-crore valuation

Data shows firm's net sales have remained stagnant in the past four years

Shapoorji Pallonji Group, the promoter of Sterling Wilson Solar, is exploring several options, including making Eureka Forbes public or selling stake in its engineering firm Forbes & Company to pay back the inter-company loans the group had taken from the solar company, sources said.

Eureka Forbes focuses on technology to differentiate brand, rethinks communication strategy

Indovative Products, a Delhi-based start-up that manufactures currency packaging products, submitted its bids but was rejected on the technical ground that it lacked "past experience"

Bank Note Paper Mill

Discount brokers have sustained the rise of the equity cult and gained market share. Now the old guard looks to strike back

Industry players say the number of demat accounts will continue to grow. However, the pace of addition may moderate.

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Half of India's population between the age of 30-55 years believes 59 years should be the age of retirement and thirty-two years is when one should ideally start retirement planning,

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He pointed out that the year-on-year growth in September appeared somewhat "muted", primarily attributed to the substantial base effect

Auto sales continue to slide in Dec, likely to remain subdued for some time

Stock market holiday: After Mahatma Gandhi Jayanti on October 2, the market will be closed on October 24, Tuesday, for Dussehra

Stock market, NSE

The expansion in August is the highest since June 2022, when it was 13.2 per cent

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The IAF is also buying a significant number of these choppers to keep the machines ready for export requirements and sale to friendly foreign countries

Light Combat Helicopter, 'Prachand'

The National Highway Authority has the potential to monetise around Rs 2 lakh crore from its HAM assets between fiscals 2024 and 2027, according to a report.
The authority's roads hold significant potential for asset monetisation in the medium term, and this is expected to be realised through an expanded portfolio of HAM (hybrid annuity model) assets and EPC (engineering, procurement and construction) projects, which have a monetisation capacity -- ranging from Rs 1.75 lakh crore to Rs 2 lakh crore during FY24-27, according to an analysis by Care Edge.
The analysis is based on 306 HAM projects awarded to 62 distinct sponsors awarded between fiscal 2016 and 2023. These projects encompass a total length of 12,700 km with a combined bid project cost (BPC) of Rs 3.35 lakh crore and debt aggregating Rs 90,000 crore.
HAM projects awarded before 2020, worth a BPC of Rs 1 lakh crore, are operational and have monetisation opportunities of Rs 9,000-11,000 crore now, benefiting both the NHAI a

Construction of the Kanpur-Lucknow expressway is expected to start from December this year, as nearly 70 per cent of the land acquisition is complete.

National Highways, NHAI

According to a law ministry notification issued on Friday, the president gave her assent on Thursday

Droupadi Murmu

According to a finance ministry circular, the interest rate on savings deposit has been retained at 4 per cent and on the one-year term deposit at 6.9 per cent

lending

Five resolutions placed by KRBL were rejected, including that of increasing remuneration of managing director (MD) and chairperson, three joint MDs and one whole time director

Just a few days before Invesco’s notice, proxy advisory firm Institutional Investors Advisory Services (IIAS) had asked Zee shareholders to vote against Kurien and Chokhani.

Corporate governance, Shareholders

Special efforts will be made to improve road connectivity and provide last-mile connectivity

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All four junk-rated notes were indicated lower on Monday, Bloomberg-compiled data showed. The August 2024 bond posted the biggest drop, down 0.6 cents on the dollar to 62.6 cents

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The West Bengal government on Monday said that there is a high possibility of flood in seven districts of the state due to continued incessant rainfall in the upper catchment areas of neighbouring Jharkhand.
Chief Secretary H K Dwivedi on Monday afternoon held an urgent virtual meeting with senior officials of the districts of Paschim Bardhaman, Bankura, Birbhum, Purba Bardhaman, Paschim Medinipur, Hooghly and Howrah and directed them to immediately take all forms of precautionary measures.
"During the meeting, the chief secretary directed all District Magistrates and SPs to immediately identify low-lying and flood-prone areas as well as start monitoring waterlogging and embankment breaches and take proper steps for their remedies," an official statement said.
"The chief secretary informed the meeting that the India Meteorological Department (IMD) has predicted rainfall to continue till October 5 with heavy rainfall predicted tomorrow. The well-marked low-pressure area is currently 

flash flood, sikkim floods

Multi-sector investment firm IQuest Enterprises will acquire the active pharmaceutical ingredients (API) business of Viatris in India for an undisclosed amount.
The investment firm has entered into a definitive agreement to acquire the API operations of global pharmaceutical major Viatris in India, IQuest Enterprises said in a statement on Monday.
IQuest emerged as the preferred investor following a global competitive bid, it added.
As part of the deal, the company will acquire six API manufacturing facilities, three each in Vizag and Hyderabad, an R&D facility in Hyderabad, and third-party API sales.
"We are excited about our largest investment in the pharmaceutical sector till date. Our investment comes at an opportune time when India is drawing significant attention amongst the global pharma industry," IQuest Enterprises Executive Director Gunupati Swathi Reddy noted.
IQuest Enterprises is a multi-sector investment company. It has invested in various entities like AIG ...

Eureka Forbes' Aquaguard

Consumer durable co Eureka Forbes Q1 net profit rises 28.5% to Rs 25.44 cr

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Aquaguard builds on its brand legacy